Earnings Releases·Nov 2, 2026, 4:05 PM ET

Backblaze — Q3 2026 Earnings Summary

Total revenue rose 26% YoY to $46.7 million, driven by a 47% increase in B2 Cloud Storage, while Computer Backup revenue declined 2%; net loss narrowed to $2.4 million from $3.8 million YoY, and non-GAAP net income increased to $6.7 million.
Full-year 2026 guidance was raised to $177.8–$178.2 million in revenue (previously $172.0–$174.0 million) and an adjusted EBITDA margin of 30–31% (previously 27–29%), with Q4 revenue expected between $49.8 million and $50.2 million.
Annual recurring revenue (ARR) grew 29% YoY to $190.7 million, with B2 ARR surging 53% and net revenue retention at 105%; the company signed four large agreements, including a $4 million AI expansion, and introduced the Backblaze B2 MCP Server for AI agents.
Completed a $201 million offering of 0% convertible senior notes due 2031 to fund capital expenditures and general corporate purposes, resulting in long-term debt of $194.5 million as of September 30, 2026.